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Jan 16, 2013
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we're headed for a debt ceiling battle is to avoid the debt ceiling itself. congressman jerry nadler joins me now and introducing the legislation today. in full disclosure he is my congressman. you do a hell of a job in your district. we're very happy with you there. >> thank you. david: i do set this that up as a compliment to criticize you, i look at a debt ceiling which started at 10 billion, 10 trillion dollars when the president came into office. it is now $16 trillion. don't we need restraint of a debt ceiling to prevent the spending from even going further? >> no. and it doesn't restrain spending at all. congress makes the decisions as to what to spend, what the level of taxation should be, what the level of spending should be. the debt ceiling is just there and, says you can not pay the bills that you voted to incur a year ago and two years ago and three years ago. and that is just wrong. now it used to be harmless in that the debt ceiling would be raised with a little demagoguing here and there but no one ever seriously suggested not raising it. it w
we're headed for a debt ceiling battle is to avoid the debt ceiling itself. congressman jerry nadler joins me now and introducing the legislation today. in full disclosure he is my congressman. you do a hell of a job in your district. we're very happy with you there. >> thank you. david: i do set this that up as a compliment to criticize you, i look at a debt ceiling which started at 10 billion, 10 trillion dollars when the president came into office. it is now $16 trillion. don't we need...
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Jan 15, 2013
01/13
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once we will through the debt ceiling and the last chance to derail the term. i think i know what happens, the same thing that has happened always when we have had so many break outs they are left behind by the wall of worry. ask yourself, do you think that this many analysts could be right? do you think that these companies are going to prove brilliant exit prices? no. i bet that this is one of these moments where the world economies are going to be better. i say that because it is the same batehavior i've seen over d over and over again. they are days to buy, not sell. in order to get into this bull market, here is the bottom line, i think this market is simply taking a snooze after a big bull run. but wakes itself up perhaps with my clock and if history serves me right, they go higher not lower and it is turned out that their evaluations ended up being catalysts galore. bob in florida, bob >> it is fwrat to tais great to. south florida by way of teaneck, new jersey. i'm calling about krispy kreme donuts. i sold it and forgot about it and now it seems like th
once we will through the debt ceiling and the last chance to derail the term. i think i know what happens, the same thing that has happened always when we have had so many break outs they are left behind by the wall of worry. ask yourself, do you think that this many analysts could be right? do you think that these companies are going to prove brilliant exit prices? no. i bet that this is one of these moments where the world economies are going to be better. i say that because it is the same...
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Jan 15, 2013
01/13
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triple-a-rated give the debt ceiling is not raised. with more of possible economic fallout, moody's chief economist. all right. if they do this, what happens to the economy, the stock market? >> well, i would think that financial markets have had enough warning of a possible downgrade of the u.s. aaa credit rating by an agency other than s&p, and thus perhaps it would not have that damaging impact. the downgrade was not especially g. that being said there will be a negative psychological shock that will temporarily send share prices sharply lower, but provided that policymakers in washington could reassure markets that washington is going to do more to stabilize the budget. maybe that -- gerri: it makes into the pipe. they did it -- did not to say there are going to downgraded if we did not like the debt ceiling prices go away. they also said the current outlook is likely to be resolved even if another debt ceiling crisis is averted. they want to see spending cut. now, do you think that the markets would go to town if there was some bi
triple-a-rated give the debt ceiling is not raised. with more of possible economic fallout, moody's chief economist. all right. if they do this, what happens to the economy, the stock market? >> well, i would think that financial markets have had enough warning of a possible downgrade of the u.s. aaa credit rating by an agency other than s&p, and thus perhaps it would not have that damaging impact. the downgrade was not especially g. that being said there will be a negative...
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Jan 16, 2013
01/13
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let's talk about the debt ceiling debate. we are all focused on this week and the president has been talking about it. what is your view on whether spending cuts should be part of the debt ceiling debate? i think that would be a serious mistake. i'm a republican, i have been so since i voted for ike in 1962 and let me tell you i've mistake. you are not talking about one thing that has to do with cutting spending. you're talking about everything and he paying your debts of the guys in the congress talk about an republican republicans drama. and every one of them has something to do with wanting ... and now you have to pay it. and you better pay and where your country is clearly facing a dire consequences. it shows that you don't give a whit about who's president. >> do you agree with the president and you think that we are risking what? a selloff in the market? 2001. >> what's going to happen if it comes to the worst case scenario here? >> somebody will say, don't forget, we all $16.4 trillion. half of that is owned by private
let's talk about the debt ceiling debate. we are all focused on this week and the president has been talking about it. what is your view on whether spending cuts should be part of the debt ceiling debate? i think that would be a serious mistake. i'm a republican, i have been so since i voted for ike in 1962 and let me tell you i've mistake. you are not talking about one thing that has to do with cutting spending. you're talking about everything and he paying your debts of the guys in the...
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Jan 19, 2013
01/13
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house republicans agree to raise the debt ceiling. one condition stay with us. ♪ copd makes it hard to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher chance of pneumonia. advair may increase your risk of osteoporosis and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking advair. if you're still having difficulty breathing, ask your doctor if including advair could help improve your lung function. get your first full prescription free and save on refills at advaircopd.com. let's say you pay your guy around 2% to manage your money. that's not much you think. except
house republicans agree to raise the debt ceiling. one condition stay with us. ♪ copd makes it hard to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not...
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Jan 15, 2013
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when you talk about raising the debt ceiling. getting a proper deal done there, is there any such thing as a band-aid o is it basically a do or die? >> it was much more complicated because it has hat add lod more debting. you have to remember this is about paying for the bills we've already obligated ourselves to play. >> it's a lost opportunity to fix other things, wouldn't you say? >> well, i don't view it as an opportunity. i view it as an opportunity to avoid catastrophe. the point i make in the article is if we must have this biggar maggetten like battle, let's hold it up over the budget when the continuing resolution expires and have it then when the consequences while not grak are not nearly as dire. >> you know, professor, you point out what i think is the biggest problem in your piece and know note thatted if real receipts only cover 74% of the outlay. in other words we're not paying enough to pay our bills but the 26th fan you mgs mentioned. that ice a problem. >> it's very, very unstatus inl. when i did this calculatio
when you talk about raising the debt ceiling. getting a proper deal done there, is there any such thing as a band-aid o is it basically a do or die? >> it was much more complicated because it has hat add lod more debting. you have to remember this is about paying for the bills we've already obligated ourselves to play. >> it's a lost opportunity to fix other things, wouldn't you say? >> well, i don't view it as an opportunity. i view it as an opportunity to avoid catastrophe....
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Jan 14, 2013
01/13
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there is a reason that debt ceiling raised with congress. that is a reason they have to start using the president's language and site we have to have a balanced approach. if you want the debt ceiling raised come at some point we're going to have to address spending cuts. this is as good a time as any. i don't think they should go all in, draw a line in the sand and shut the government down because the public doesn't know a heck of a lot about this. they could be the recipient of the blame for this. gerri: use a dollar for dollar doesn't work. >> it will not stop the debt from growing as a percent of gdp because the gap is too large. >> i'm not saying it will balance the budget. we have to start the conversation, this is a good place to start making inroads. that is when republicans really have to draw the line in the sand. gerri: you were saying, which i thought was interesting, somewhat at odds with the conservative pundits that has to be some negotiation, give or take on both sides. >> what i said was any increase in taxes on income that w
there is a reason that debt ceiling raised with congress. that is a reason they have to start using the president's language and site we have to have a balanced approach. if you want the debt ceiling raised come at some point we're going to have to address spending cuts. this is as good a time as any. i don't think they should go all in, draw a line in the sand and shut the government down because the public doesn't know a heck of a lot about this. they could be the recipient of the blame for...
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Jan 15, 2013
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"raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up, and we need to pay them." president obama warns that if the debt limit is not raised or used as leverage by republicans, markets would go haywire, interest rates would rise, and checks to military veterans and people on social security would end. gop senate minority leader mitch mconnel reponded by saying, "the president and his allies need to get serious about spending, and the debt-limit debate is the perfect time for it." traders will get their first opportunity to react to comments at the market close yesterday by federal reserve chairman ben bernanke. among the highlights, the fed chair says, the federal government is not out of ammunition, the fed's bond-buying program is not likely to lead to higher inflation, and the fed sees positive signs in the economy. bernanke made the comments during an appearance at the university of michigan. nike i
"raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up, and we need to pay them." president obama warns that if the debt limit is not raised or used as leverage by republicans, markets would go haywire, interest rates would rise, and checks to military veterans and people on social security would end. gop senate minority leader mitch mconnel...
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Jan 15, 2013
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: markets are almost treating the fight over the debt ceiling as the sequel to a bad movie. and investors have a pretty good feel for how this cliffhanger ends. >> they don't really care about the brinksmanship until they are right up to the brink, but also, the more dangerous the fall, off the brink, they figure the less likely that it's going to happen. >> reporter: treasury secretary timothy geithner told congress today that unless it acts, the nation will not be able to pay its bills sometime around mid- february or early march. so with a month of so to go, there is no solution in sight. darren gersh, washington, d.c. >> tom: federal reserve chairman ben bernanke echoed the president's comments on the debt ceiling today, in a speech at the university of michigan, he said congress has to take action to avoid a situation where our government doesn't pay its bills. ahead of that, stocks were mixed, the blue chip dow rose almost 19 points, while the nasdaq dropped eight, and the s&p 500 down a point. >> susie: weighing on the nasdaq today: apple. the stock got crushed, on wo
: markets are almost treating the fight over the debt ceiling as the sequel to a bad movie. and investors have a pretty good feel for how this cliffhanger ends. >> they don't really care about the brinksmanship until they are right up to the brink, but also, the more dangerous the fall, off the brink, they figure the less likely that it's going to happen. >> reporter: treasury secretary timothy geithner told congress today that unless it acts, the nation will not be able to pay its...
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Jan 18, 2013
01/13
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house republicans agree to raise the debt ceiling. one condition stay with us. ♪ ♪ [ male announcer ] how could a luminous prote in jellyfish, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. ♪ gerri: republicans go for a short-term increase in the debt ceiling, but how can we tackle our long-term problems? grover norquist year in 60 seconds. ♪ ♪ gerri: retreating or
house republicans agree to raise the debt ceiling. one condition stay with us. ♪ ♪ [ male announcer ] how could a luminous prote in jellyfish, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with...
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Jan 18, 2013
01/13
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debt ceiling all together. liz: plus we have the bond king of canada who knows plenty about our markets. five years ago he said that investors had the opportunity of a lifetime to buy stocks, just as we hit bottom, and we saw that bubble explode. well, he was right. now, what is he saying? 2013 holds the second buy of a lifetime? what is it? and how can you take advantage of it? he is here to talk about it. david: liz has that interview all to herself because i can't begin to pronounce his name. let's tell you what drove the markets. mixed day on wall street with s&p and dow closing in the green. all three major indices ending the week higher. industrials and energy were today's top performing sectors while technology was the only sector ending the day lower. and oil ending the week in the green after the international energy agency raised its global oil demand forecast for the whole year. crude's settling the week up 2.1% at $95.56 a barrel and consumer confidence falling for the second month in a row, droppin
debt ceiling all together. liz: plus we have the bond king of canada who knows plenty about our markets. five years ago he said that investors had the opportunity of a lifetime to buy stocks, just as we hit bottom, and we saw that bubble explode. well, he was right. now, what is he saying? 2013 holds the second buy of a lifetime? what is it? and how can you take advantage of it? he is here to talk about it. david: liz has that interview all to herself because i can't begin to pronounce his...
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Jan 15, 2013
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president obama tells congress we're not a deadbeat nation, and they need to raise the debt ceiling now, so we can pay our bills on time. >> tom: i'm tom hudson. a sour day for apple investors. the stock tumbles to 11 month lows on new worries about waning demand for the iphone 5. >> susie: but a banner day for g.m., the cadillac ats takes car of the year at the big auto show in detroit, and its new corvette stingray wows gear heads around the globe. >> tom: that and more tonight on "n.b.r."! >> susie: the next big fight in washington has begun. president obama today called on republican lawmakers to authorize an increase in the nations debt limit, saying that messing with it could potentially have catastrophic results for many americans and the overall economy. he warned markets would go haywire if congress does not act, interest rates would rise, and checks to social security beneficiaries would stop. and he said even thinking about the u.s. not paying its bills is irresponsible and, "absurd". darren gersh reports. >> reporter: in his first news conference of the new year the presiden
president obama tells congress we're not a deadbeat nation, and they need to raise the debt ceiling now, so we can pay our bills on time. >> tom: i'm tom hudson. a sour day for apple investors. the stock tumbles to 11 month lows on new worries about waning demand for the iphone 5. >> susie: but a banner day for g.m., the cadillac ats takes car of the year at the big auto show in detroit, and its new corvette stingray wows gear heads around the globe. >> tom: that and more...
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Jan 15, 2013
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ceiling and debt negotiations. i think it's helped gold also as people look for safety. >> do you agree that the platinum and rally has helped gold and do you think we can look at this platinum rally and make a bigger indication of what is happening in the economy? some people say it's an indication that things are really turning around? >> jackie, i think it's too heavy. the anglo american platinum pulls off 400,000 ounces of platinum per year. that's almost 7% of global demand -- production, rather. that sends the market up. when i got up this morning and looked at the screen, platinum made that 3% today. i looked at the metal sector and looked at things that were undervalued. i think gold short term will benefit but long term i think platinum is going to be a better bet. if platinum stays higher, than going through the latter part of the year, that could signal a change in the market sentiment. gold is your fear and platinum is going to be demand in manufacturing. that could signal a change but not yet. i think
ceiling and debt negotiations. i think it's helped gold also as people look for safety. >> do you agree that the platinum and rally has helped gold and do you think we can look at this platinum rally and make a bigger indication of what is happening in the economy? some people say it's an indication that things are really turning around? >> jackie, i think it's too heavy. the anglo american platinum pulls off 400,000 ounces of platinum per year. that's almost 7% of global demand --...
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Jan 15, 2013
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like ben bernanke saying time to ditch the debt ceiling all together. is it as silly as he says it is? we'll debate that. more "money" ahead what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. ♪ . melissa: so moving onto another budget fight and accusations that republicans will hold the debt ceiling hostage over spending cuts, federal reserve chairman ben bernanke said there is no practical purpose to the debt ceiling and it is a device to prevent the u.s. from paying its bills. why are we wat
like ben bernanke saying time to ditch the debt ceiling all together. is it as silly as he says it is? we'll debate that. more "money" ahead what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. [...
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Jan 15, 2013
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raise the debt ceiling or risk a u.s. downgrade. >> markets are in a holding pattern until the debt ceiling fight is over and the backdrop for the fitch warning is quite different this time around, and pete will explain why in just a moment. just said to you during the break. a heck of a holding pattern if that's what the market is in. plenty of sectors hitting new highs right now. no question about it. this is the year that we springboard up now. not just to climb the wall of worry. get through the debt ceiling debate, continuing resolution. it's going to be bumpy. we'll take full advantage of a market falldown during that period because you've got three main things going for you. housing turning for real, not just an inventory real liquiification and foreclosures. all that have stuff turning for real. it will turn into unemployment back half of the year. a little better transparency on fiscal policy. not necessarily the fix but the transparency. business cap "x" second half of the year and every single central bank in t
raise the debt ceiling or risk a u.s. downgrade. >> markets are in a holding pattern until the debt ceiling fight is over and the backdrop for the fitch warning is quite different this time around, and pete will explain why in just a moment. just said to you during the break. a heck of a holding pattern if that's what the market is in. plenty of sectors hitting new highs right now. no question about it. this is the year that we springboard up now. not just to climb the wall of worry. get...
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Jan 16, 2013
01/13
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like ben bernanke saying time to ditch the debt ceiling all together. is it as silly as he says it is? we'll debate that. more "money" ahead officemax has exactly the ink... your business needs... at prices that keep you...out of the red. this week get a bonus $15 itunes gift card with any qualifying $75 ink purchase. find thousands of big deals now... at officemax. ♪ music kids will spend 15 minutes watching online videos like this one. brushing for two minutes now, can save your child from severe tooth pain later. two minutes twice a day. they have the time. ♪ . melissa: so moving onto another budget fight and accusations that republicans will hold the debt ceiling hostage over spending cuts, federal reserve chairman ben bernanke said there is no practical purpose to the debt ceiling and it is a device to prevent the u.s. from paying its bills. why are we watching washington fight over it? maybe we should get rid of it. here is susan occhs, american banker columnist and former senior advisor to president obama and stephen hayes, "weekly standard"
like ben bernanke saying time to ditch the debt ceiling all together. is it as silly as he says it is? we'll debate that. more "money" ahead officemax has exactly the ink... your business needs... at prices that keep you...out of the red. this week get a bonus $15 itunes gift card with any qualifying $75 ink purchase. find thousands of big deals now... at officemax. ♪ music kids will spend 15 minutes watching online videos like this one. brushing for two minutes now, can save your...
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Jan 15, 2013
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he voted against the debt ceiling i believe in 2006. why all of a sudden does he not want have to have negotiations? >> i think will's happened, larry, is that the president spent 2011 and 2012 with republicans squeezing him on his priorities, having opposed him during the first two years of his presidency. then that really had the wind at their back. the tea party election of 2010 had given republicans very big numbers on the hill. and he's decided that he backed up, and he backed up and he backed up, and he's not going to back up anymore. he took his argument to the american people in the election. he won the election. they held the house, that is true. but he's decided that he's been vindicated by public opinion broadly, and he's going to try to hold that ground. the question is going to be, larry, at the end of the year on the tax issue, he had the hammer behind him of the expiration of all the bush tax cuts. he does not have that hammer right now. what he has is the prospect of a catastrophic standoff between republicans and democr
he voted against the debt ceiling i believe in 2006. why all of a sudden does he not want have to have negotiations? >> i think will's happened, larry, is that the president spent 2011 and 2012 with republicans squeezing him on his priorities, having opposed him during the first two years of his presidency. then that really had the wind at their back. the tea party election of 2010 had given republicans very big numbers on the hill. and he's decided that he backed up, and he backed up and...
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Jan 19, 2013
01/13
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president obama warned republicans about taking the debt ceiling hostage. it looks like they heard the message. >> the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. and they better choose quickly because time is running short. >> republicans made their choice today during a gop retreat in williamsburg, virginia. house majority leader eric cap tore reportedly announced plans to pass a bill extending the debt limit for an additional three months. it's the clearest signs yet republicans have no intention of ever defaulting on the country's debt. in a statement the white house responding, saying, we are encouraged. there are signs congressional republicans may back off their insistence on holding our economy hostage to extract drastic cuts in medicare, education and programs middle class families depend on. the temporary nature of the increase is somewhat troubling. a white house official told nbc news it's a terrible way to run the country. but the aid
president obama warned republicans about taking the debt ceiling hostage. it looks like they heard the message. >> the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. and they better choose quickly because time is running short. >> republicans made their choice today during a gop retreat in williamsburg, virginia. house majority leader eric cap tore reportedly announced plans...
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Jan 14, 2013
01/13
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but i think at the end of the day, the deal made is a debt ceiling increase. but republicans will go through with those sequester cuts. >> yeah. if i could just come. jump in real quick. brian, bandy, jumping 06 of what jimmy had to say here, let's not forget, defaulting on the principle and interest obligation says separate conversation from defaulting on things to other people. say, sending out social security checks. in the context of quote unquote, defaulting on our debt, i'm with jimmy p. as well. missing an interest payment, a very low probability. >> that where some of the confusion seems to be, steve. exact lit public understanding. that why we are here at cnbc to what the risk really is. is someone not going to get their social security check? is the post office not going to be paid? what would happen first? >> brian, a lot of people don't understand because it is complicated. neither side of this depate want you to understand the reality here. on the one hand, the administration wants you to -- doesn't want you to know there are two options here. def
but i think at the end of the day, the deal made is a debt ceiling increase. but republicans will go through with those sequester cuts. >> yeah. if i could just come. jump in real quick. brian, bandy, jumping 06 of what jimmy had to say here, let's not forget, defaulting on the principle and interest obligation says separate conversation from defaulting on things to other people. say, sending out social security checks. in the context of quote unquote, defaulting on our debt, i'm with...
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Jan 16, 2013
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ceiling issue. >> on the debt ceiling. >> that's not what he's doing. that's the reality. >> the american public has got to step up and say we understand the government in washington is too bloated. we're spending more money than we take in. we eve got to live within our means. they ought to demand, the american public, that we quit the nonsensical spending. in states we're doing more with less. we've cut our budgets and we're providing better services now and a leaner more efficient fashion. the federal government should do the same thing, and president obama is the one person who can lead on this issue. grow the economy by bringing in some certainty to it. if he wants to fight hard for tax rate increases, he ought to be fighting just as hard for spending cuts. >> you know, governor, he made an interesting point during his news conference this week where he said if -- if this debate is just about reducing the fiscal deficit, he's on board and let's get it done, but he suspects that there are a lot of conservative republicans out there for whom this deb
ceiling issue. >> on the debt ceiling. >> that's not what he's doing. that's the reality. >> the american public has got to step up and say we understand the government in washington is too bloated. we're spending more money than we take in. we eve got to live within our means. they ought to demand, the american public, that we quit the nonsensical spending. in states we're doing more with less. we've cut our budgets and we're providing better services now and a leaner more...
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Jan 14, 2013
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. >>> battle over the debt ceiling and spending cuts. jon harwood will recap the latest war of words doming up next. then words from the billionaire executive who says we need to watch out for creeping socialism into the country. he was born in hungary and he sees a lot of warning signs. >>> plus nightmare on housing. so called zombie homes. what are they? this will shock you. back in a moment. [ male announcer ] you've climbed a few mountains during your time. and having an investment expert like northern trust by your side makes all the difference. we add precision to your portfolio construction by directly matching your assets and your risk preferences against your own unique life goals. we call it goals driven investing. after all, you don't climb a mountain just to sit at the top. you look around for other mountains to climb. ♪ expertise matters. find it at northern trust. >>> welcome back. zombie homes, have you heard of this? diana olick tells us what they are and how they can impact your property value. >> they are foreclosures
. >>> battle over the debt ceiling and spending cuts. jon harwood will recap the latest war of words doming up next. then words from the billionaire executive who says we need to watch out for creeping socialism into the country. he was born in hungary and he sees a lot of warning signs. >>> plus nightmare on housing. so called zombie homes. what are they? this will shock you. back in a moment. [ male announcer ] you've climbed a few mountains during your time. and having an...
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. >> president obama making his case for raising the debt ceiling. this morning the president says he will negotiate on spending cuts but not on the debt ceiling. mark matthews is here now with more on what sat stake. >> republicans in the house say they won't raise the debt gmu and president agree to corresponding cuts. the president outlined the stake autos the president began by defining the issue. >> debt keeling is not a question of authorizing more spending. it allows the country to pay for spending that congress is committed to. >> he said americans understand the concept. >> you don't go out to dinner and... then, you know eat all you want. and then... leave without paying a check. >> if you do that, it's against the law, said the president. he added if congress fails to raise the debt ceiling american people will pay the price. >> social security checks and veteran benefits will be delayed. we might not be able to pay our troops or honor our contracts with small business owner autos again and again, the president repeated the fact raising th
. >> president obama making his case for raising the debt ceiling. this morning the president says he will negotiate on spending cuts but not on the debt ceiling. mark matthews is here now with more on what sat stake. >> republicans in the house say they won't raise the debt gmu and president agree to corresponding cuts. the president outlined the stake autos the president began by defining the issue. >> debt keeling is not a question of authorizing more spending. it allows...
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the debt ceiling is going to be made. america is not at the end of the day going to --. on the other hand, they are not going to solve this quickly. they will make us go through the same thing they did at the end of 2012. david: we're always hearing that the president is not going to make a deal until he does make a deal and the same is true with congress but something is going to get done. let's focus on stocks for a second. we had this two very interesting bits of news from the tech market. apple waking up to news today that they are not selling as many iphone 5s as they thought they would therefore they are cutting back on supply orders. also the news from dell that they may be going private. is there a retrenchment -- retrenchment going on in the tech sector >> being a commodity person all my life, a commodity is a commodity and over time it loses value. dell has discovered that. that is one of the problems they are in. they have to get into a different business. apple came out with its iphone 5 which didn't shake the world. i have an iphone 4-s. why do i need an iph
the debt ceiling is going to be made. america is not at the end of the day going to --. on the other hand, they are not going to solve this quickly. they will make us go through the same thing they did at the end of 2012. david: we're always hearing that the president is not going to make a deal until he does make a deal and the same is true with congress but something is going to get done. let's focus on stocks for a second. we had this two very interesting bits of news from the tech market....
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debt ceiling. i love the debt clock. it's almost as fast as the amount of money they're going to earn tr nike. >> and is we'll talk about that. >> meanwhile, fed chairman ben bernanke speaking monday warned the u.s. economy isn't out of the woods yet and is still at risk from political gridlock. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effect of way to improve your credit rating. >> ben bernanke says the u.s. economy appears to be willing to raise the debt ceiling. it's downplaying fierce that this could lead to higher inflation. >>. >> what do you think? >> well, i think, you know, what we've seen in the beginning of the year, like the solution of the fiscal cliff for the
debt ceiling. i love the debt clock. it's almost as fast as the amount of money they're going to earn tr nike. >> and is we'll talk about that. >> meanwhile, fed chairman ben bernanke speaking monday warned the u.s. economy isn't out of the woods yet and is still at risk from political gridlock. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new...
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Jan 21, 2013
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we've gone over the cliff, now we have the debt ceiling. but, you know, even if they get over those two short-term problems, you still have got the problem of a massive deficit, which is going to have to be reigned in. at some point, you're going to get a fiscal squeeze in america and that is going to put a break on what is not very far from economic growth. i think you'll have that which is always something that is going to be there in the background. you have a lot of debt, as well, still in the private sector, which needs to be fluffed off. there's a deraef raejing that you've been seeing right across the western world is still going to go on, i think, for the best part of this decade. >> and we heard leading up to this election that rarely has a u.s. president been elected with such high levels of unemployment. what was different this time? >> oh, i think it had something to do with the candidate he was facing not being able to energize the public. but i also think, look, reflation? the public loves that, right? free money. >> but do th
we've gone over the cliff, now we have the debt ceiling. but, you know, even if they get over those two short-term problems, you still have got the problem of a massive deficit, which is going to have to be reigned in. at some point, you're going to get a fiscal squeeze in america and that is going to put a break on what is not very far from economic growth. i think you'll have that which is always something that is going to be there in the background. you have a lot of debt, as well, still in...
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topic number one, debt ceiling deadline. john harwood is at the white house. lines are drawn, john. >> sue, they were drawn very starkly by the president. he asserted that american people vendcated his approach to deficit reduction in the recently passed election. he said he was willing to negotiate over ways to cut the deficit in the future but he accused house republicans of playing a hostage game with debt limit in the debt ceiling very soon and said he will not participate. >> they will not collect a ransom in exchange for not crashing the american economy. the financial well-being of the american people is not leverage to be used. the full faith and credit of the kru united states of america is not a bargaining chip and they better choose quickly because time is running short. >> john boehner put o out a statement right after the news conference trying to stay out of box the president put them in. he said, the house will doity job and pass responsible legislation that droenls spending, meets our nation's obligations and keeps the government running. the q
topic number one, debt ceiling deadline. john harwood is at the white house. lines are drawn, john. >> sue, they were drawn very starkly by the president. he asserted that american people vendcated his approach to deficit reduction in the recently passed election. he said he was willing to negotiate over ways to cut the deficit in the future but he accused house republicans of playing a hostage game with debt limit in the debt ceiling very soon and said he will not participate. >>...
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that's the debt ceiling. keep it in mind, the treasury does not make decisions about how the money is spent. they're simply empowered in this case to borrow money and write the checks to pay the bills incurred by your democratically elected congress. today the debt ceiling is $16.3 trillion which is less than our debt. the treasury can use extraordinary measures to raise an extra $200 billion. those extra funds will only last until about mid february or early march according to the bipartisan policy center. good luck trying to explain this to conservative talk radio show host, rush limbaugh. >> i think it's a debt limit as your monthly credit card limit. you can't go over it on your credit card. and the united states government can't spend more than what its credit limit is or its debt limit. now ali velshi at cnn says that has no relation to spending. >> that's right, rush, the debt ceiling was create sod the congress wouldn't constantly need to authorize congress to borrow to raise more money. it doesn't au
that's the debt ceiling. keep it in mind, the treasury does not make decisions about how the money is spent. they're simply empowered in this case to borrow money and write the checks to pay the bills incurred by your democratically elected congress. today the debt ceiling is $16.3 trillion which is less than our debt. the treasury can use extraordinary measures to raise an extra $200 billion. those extra funds will only last until about mid february or early march according to the bipartisan...
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Jan 18, 2013
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people are now saying if debt ceiling is taken care of or deferred we don't have much to worry about. i think we have a little cold shower if we're looking at the economic growth forecast that involved major cuts whether it's sequestration, short-term government shutdown. i'm not an alarmist about what is going none d.c. but i feel like what we've done is the consensus has really been oscillating between over anticipating terrible things from d.c. to under anticipating them. i think we are in the latter situation right now. >> michael, it is joe. we may or may not next week get the announcement of a dell deal or potentially the deal falls through. what type of impact do you see in terms of sentiment on the overall s&p there would be if an actual deal is to occur or if it falls apart? >> i think it has to be followed by others. i think i actually feel like it is a one off thing. people are obviously eager to see something get done. you want to see the capital markets be able to achieve what on paper seems like an obvious deal. a company that probably should be private. and so i do thi
people are now saying if debt ceiling is taken care of or deferred we don't have much to worry about. i think we have a little cold shower if we're looking at the economic growth forecast that involved major cuts whether it's sequestration, short-term government shutdown. i'm not an alarmist about what is going none d.c. but i feel like what we've done is the consensus has really been oscillating between over anticipating terrible things from d.c. to under anticipating them. i think we are in...
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trimg the deficit should be separate from the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is a america will pay its bills. we are not a deadbeat nation. >> john boehner said the american people do not support raising the debt ceiling without reducing government spending at the same time. >> listen to this. a medical scare in a buffalo, new york veteran's hospital. many may have been exposed to hiv. the pens are designed to be used by one person, but many of them were used on multiple people. >> surfers, beware. you have to look at this video. it's shocking. >> standing on the shore? >> he has his toes in the water. two sharks were spotted dangerously close to shore in honolulu. this was off of oahu. they are like ten feet offshore. >> i will call him a dingaling if he is in the water. >> he's a hero. >> there is flooding and ice. from the weather center, you said snow is on the way as well? >> that's right. it's coming to you guys. it's coming into a north and west of new york into connecticut as well. that's not today's concern. we have the s
trimg the deficit should be separate from the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is a america will pay its bills. we are not a deadbeat nation. >> john boehner said the american people do not support raising the debt ceiling without reducing government spending at the same time. >> listen to this. a medical scare in a buffalo, new york veteran's hospital. many may have been exposed to hiv. the pens are designed to be used...
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this time it's called the debt ceiling debate. former senator alan simpson is co-founder of the campaign to fix the debt and the former debt commissioner co-chair. he's been an outspoken advocate of getting our spending under control, and he joins us right now in a cnbc exclusive. senator, good to have you on the program. thanks for joining us. >> it's a pleasure always doing that with you. >> we've read simpson/bowles. know you recommend spending cuts, but do you believe the gop should be using the debt ceiling as a leverage point to get to the president to agree to the cuts? >> i think that would be a grave mistake. i don't think that would solve anything. i know they are going to try it, and how far they will go with the guam of chicken, i have no idea, but i can tell you can't -- you really can't -- this is stuff that we've already indebted ourselves. i mean, if you're a real conservative, really honest conservative without hypocrisy, you would want to pay your debt, and that's what this is. they are not running up anything ne
this time it's called the debt ceiling debate. former senator alan simpson is co-founder of the campaign to fix the debt and the former debt commissioner co-chair. he's been an outspoken advocate of getting our spending under control, and he joins us right now in a cnbc exclusive. senator, good to have you on the program. thanks for joining us. >> it's a pleasure always doing that with you. >> we've read simpson/bowles. know you recommend spending cuts, but do you believe the gop...
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treasuries tapping government workers' retirement funds to avoid hitting the debt ceiling. the treasury previously estimated the move would give it around $156 billion in additional borrowing capacity. it says retirees will still receive their benefits. in a letter to the house speaker john boehner, the treasury secretary says this step has been taken before during previous debt limit impasses. several conservative republicans are set to introduce legislation to direct treasury to prioritize debt payments if congress doesn't raise the debt ceiling. >>> and president obama will unveil his gun control plan today at 11:45 eastern. he's expected to call on congress to ban military-style assault weapons and the type of high-capacity ammunition used in last month's school shooting in newtown, connecticut. the package will also include efforts to stop school bullying and invest available mental health services. may include several steps the president can take right away without congressional approval. >>> the house of representatives has passed more than $50 billion in aid for hur
treasuries tapping government workers' retirement funds to avoid hitting the debt ceiling. the treasury previously estimated the move would give it around $156 billion in additional borrowing capacity. it says retirees will still receive their benefits. in a letter to the house speaker john boehner, the treasury secretary says this step has been taken before during previous debt limit impasses. several conservative republicans are set to introduce legislation to direct treasury to prioritize...
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ceiling, let you raise the debt ceiling and violate the things we promised we wouldn't do to the people that elected us. in return, you guys, senate democrats come up with a budget and you haven't passed one in 1300 some days. chuck schumer says i'll make a deal and take you up on the offer guess what, in the new budget we're going to tax more, tax all you people to agreed to the deal that they just came to january 1st, that deal is done we'll keep that and give another, another bite of at that apple. stuart: this is a financial issue. it's a budget issue, so they need a straight up or down vote in the senate and the democrats have a majority in the senate, but i'll put it to you, a couple of democrats there, who are going to say we're not all for more and more and more taxes because we know what it's going to do to the economy. it's not a done deal, is it? they're pushing for it, but it ain't done. >> listen, harry reid, remember when john boehner was going to bring the vote to the house and he didn't have the votes after he'd said i'm going to bring the vote to the house. i have a sus
ceiling, let you raise the debt ceiling and violate the things we promised we wouldn't do to the people that elected us. in return, you guys, senate democrats come up with a budget and you haven't passed one in 1300 some days. chuck schumer says i'll make a deal and take you up on the offer guess what, in the new budget we're going to tax more, tax all you people to agreed to the deal that they just came to january 1st, that deal is done we'll keep that and give another, another bite of at that...
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we already hit the debt ceiling that isn't commonly realized. the question do you want to draw a line there and mess around with a market reaction or draw a line on funding the government? if you're not going to fund the government our option is to shut down the government. if you want to resort to drastic measures talk about a threat to shut down the government, not a threat to default on america's debt. that is interesting choice republicans will talk about over the next few days. the white house would prefer to have none of the above. tracy: right. >> if you're going to use leverage, which is the smartest leverage to use. tracy: talk about that. is it legal for treasury to prioritize its bills basically? regardless what happens, we're probably still going to make our interest payments aren't we? >> that is kind of the argument that emerged in the last couple days. republicans are saying look there is no threat of default here. if we hit the debt ceiling it means the government can only spend as much revenue coming in on any given day. you can
we already hit the debt ceiling that isn't commonly realized. the question do you want to draw a line there and mess around with a market reaction or draw a line on funding the government? if you're not going to fund the government our option is to shut down the government. if you want to resort to drastic measures talk about a threat to shut down the government, not a threat to default on america's debt. that is interesting choice republicans will talk about over the next few days. the white...
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we're the only country on earth that has a debt ceiling limit. ultimately as part of a grand bargain we ought to get rid of it and we ought to substitute statutory budget controls and the constitutional credit cart limit, the gdp but in the interim if the republicans wasn't to use leverage they ought to use it on the sequester and continuing resolution. >> right on the heels -- >> we should not allow this to become thought of as a legitimate or normal budget strategy. this is hostage-taking. this is saying walk into a room saying i've got a bomb, give me what i want or i'll blow up this room. this is not something -- this has never happened before and should not be allowed to happen. >> doesn't it mean it will happen now for the first time given the positions that each side has taken and what -- let me ask you, paul krugman, what are the economic consequences of that? >> it's incredibly scary. this is much scarier than the fiscal cliff, much scarier than any of the other things out there because we don't know what it does. what we do know is u.s.
we're the only country on earth that has a debt ceiling limit. ultimately as part of a grand bargain we ought to get rid of it and we ought to substitute statutory budget controls and the constitutional credit cart limit, the gdp but in the interim if the republicans wasn't to use leverage they ought to use it on the sequester and continuing resolution. >> right on the heels -- >> we should not allow this to become thought of as a legitimate or normal budget strategy. this is...
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let the debt ceiling battle begin. president obama calling on congress to raise the limit without delay. house speaker boehner says spending cuts must be part of any increase. who will win and how will it impact the already fragile economy? we're looking for answers on that. >>> general motors takes the prize. the cadillac ats wins car of the year at the north american auto show. gm also announcing record chevy sales. plus new plans for its corvette. my favorite car. >>> and gm north america president mark reuss tells us all about it. that is live coming up from detroit. >>> weight watcher's ceo is here too. he was one of the corporate america's loudest voices leading up to the fiscal cliff. now that paychecks are smaller in 2013 how worried is he about the impact on his business? david kir chof here as well it is time for stocks. nicole petallides on the floor of the new york stock exchange. we're basically flat-lining. >> not far off the unchanged line. the trend is slightly higher. that's right, on friday for exampl
let the debt ceiling battle begin. president obama calling on congress to raise the limit without delay. house speaker boehner says spending cuts must be part of any increase. who will win and how will it impact the already fragile economy? we're looking for answers on that. >>> general motors takes the prize. the cadillac ats wins car of the year at the north american auto show. gm also announcing record chevy sales. plus new plans for its corvette. my favorite car. >>> and...
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take a look now at what the debt ceiling would be, if you reached the debt ceiling and reduced government spending by that amount, mark sandy, others suggest it should be a 7% hit to gdp. so, simon, a big war of numbers, and big war of words on both sides, as we game out what happens, first with the debt ceiling, then we continue resolution, and also the sequester. simon? >> let's hope they rise above. thank you very much, steve liesman with the fiscal cliff. >>> it's been the trade of many people's lifetimes, but with the courages sill at multiyear lows. and the meeting next week, will the trade last? it's the "money in motion" section. good morning. >> good morning. good to be with you guys. what about this dollar/yen trade? obviously the dollar is substantially higher today, but monday/tuesday/wednesday, we've reversed the trend, the yen was actually higher. where do we go from here? >> i think steve's presentation is one of the reasons i'm cautious on this trade. we're within a whisker of the obvious target. i think that trade level will stall. to me i think the better trade is to tak
take a look now at what the debt ceiling would be, if you reached the debt ceiling and reduced government spending by that amount, mark sandy, others suggest it should be a 7% hit to gdp. so, simon, a big war of numbers, and big war of words on both sides, as we game out what happens, first with the debt ceiling, then we continue resolution, and also the sequester. simon? >> let's hope they rise above. thank you very much, steve liesman with the fiscal cliff. >>> it's been the...
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ceiling to avoid a potentially disastrous debt default. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying oh, i know how we can save money we won't pay our credit card bills. not the most effective way to improve your credit rating. >> but the chairman was fairly upbeat on the outlook for u.s. growth. but, gave no clear hints on when the fed would curb its aggressive bond purchases. we'll have more on the debt ceiling in the next hour when we speak to senator rob portman. you guys, wilbur, you also said we have -- we are fully ready with inflation, we have all the tools we need to exit. >> well, i caution a little bit. historically the fed has always bought short-term paper and it's easy then to raise the interest rates. again you let the paper roll off, you sell it. now they've been buying long-term paper. rates start to go up, fed cou
ceiling to avoid a potentially disastrous debt default. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying oh, i know how we can save money we won't pay our credit card bills. not the most effective way to improve your credit rating. >>...
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next few months, with this debt ceiling fight. and try to extract more spending cuts out of democrats over the next few months. but again it has become clear through this strategy, appears we're going to have these spending and budgeting fight pretty much every few months in washington, as no long-term strategy is yet to emerge. back to you. ashley: you're thrilled by that, rich edson, thanks so much. tracy: poor guy. all right, let's talk more about that. house republicans laying out their strategy in this debt ceiling fight but will this no budget, no pay thing work to address our physical problems? joining us now, douglas holtz-eakin, president of the american action for rim. rich is talking about we're basically punting the debt ceiling three months. should the republicans drop the debt ceiling fight all together and focus on sequester, continuing resolution? they probably have more room to fight? >> getting it in this order, putting debt ceiling last, other bills first is to their advantage because they're fighting about spen
next few months, with this debt ceiling fight. and try to extract more spending cuts out of democrats over the next few months. but again it has become clear through this strategy, appears we're going to have these spending and budgeting fight pretty much every few months in washington, as no long-term strategy is yet to emerge. back to you. ashley: you're thrilled by that, rich edson, thanks so much. tracy: poor guy. all right, let's talk more about that. house republicans laying out their...
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debt ceiling. the coke group americans for prosperity is urging restraint from republicans during the negotiations. these guys you said are on the right have moved to those guys you said were in the center, some of them, anyway, right? >> i think -- >> these guys are folding, caving. they know obama has them on the run, as far as public opinion. they're running off -- >> nothing is ever simple. the debt ceiling is only 1 of 3. >> you'd sequester -- >> i think we will see the sequester, the path of least resistance. congress has to do something to prevent the sequester and the president agree to it. it's unlikely, 1$1.2 trillion, using the dollar for dollar basis, do it twice and -- >> have you seen "41," movie, "41." i saw a couple clips and president bush talking about the nixon year, because he was there and what was it like to be a republican. he said it was not a great time to be a republican at the end of the nixon era and the prospects for the party didn't look very positive. i don't know. it
debt ceiling. the coke group americans for prosperity is urging restraint from republicans during the negotiations. these guys you said are on the right have moved to those guys you said were in the center, some of them, anyway, right? >> i think -- >> these guys are folding, caving. they know obama has them on the run, as far as public opinion. they're running off -- >> nothing is ever simple. the debt ceiling is only 1 of 3. >> you'd sequester -- >> i think we...
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the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in august of 2011 that got the u.s. downgraded last time. so it's very important. all these issues are important, but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. it went part of the way, as you mentioned. but it leaves a number of issues still on the table and traditional negotiations are looming. would you characterize that as an additional cliff that is facing us? or do you think it
the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in...
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over raising the debt ceiling. a loss of confidence in the u.s. dollar. dunkin brands has set its sights on the golden coast again. they will be opening up shop in southern california in 2015. returning to the state after more than a decade. the dow is down 25 points. that is the latest from the fox business network. giving you the power to prosper. ♪ connell: we are back here on market now. bringing back $36 million worth of gold. the bank said in a statement, it will repatriate gold stored in paris and new york. this follows some criticisms that came in over the oversight of gold. new york still has 37% of the reserves. dagen: that is pretty cool. sobering news for energy drink consumers. the number of people visiting ers or emergency rooms after drinking the beverages has doubled nationwide. that is up more than 10,000 cases from 2007-2010. it is a rising health problems that can cause insomnia, fast heart rate and seizures. movement by the government potentially to regulate the sale of these drinks. like fda. we shall see. if you drink too many of t
over raising the debt ceiling. a loss of confidence in the u.s. dollar. dunkin brands has set its sights on the golden coast again. they will be opening up shop in southern california in 2015. returning to the state after more than a decade. the dow is down 25 points. that is the latest from the fox business network. giving you the power to prosper. ♪ connell: we are back here on market now. bringing back $36 million worth of gold. the bank said in a statement, it will repatriate gold stored...
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there's the debt ceiling. zandi i talked to the other day, talked to some other economists, they're saying if you hit the debt ceiling, you stayed there, you made government spending equal cash flow would be about 7% hit to gdp. essentially taking a trillion dollars out of the economy. so there it is, guys. the debt ceiling game, home edition, have fun tonight. >> this is actually much bigger deal. >> it's a huge deal. >> but would never last -- >> never going to happen, right? that's what people say. >> okay. >> relax, steve. >> i'm okay. >> what happens is the rating agencies -- >> your heart rate is going. >> what's that? >> what about the ratings agencies if they were to downgrade us, if we went over, if we went over for a day it's one thing, if we went over and stayed for a week, do they look at it just because washington can't get along, that's reason enough for another downgrade? >> that's a critical question. that's why the democrats are likely to define default as missing any government payment becaus
there's the debt ceiling. zandi i talked to the other day, talked to some other economists, they're saying if you hit the debt ceiling, you stayed there, you made government spending equal cash flow would be about 7% hit to gdp. essentially taking a trillion dollars out of the economy. so there it is, guys. the debt ceiling game, home edition, have fun tonight. >> this is actually much bigger deal. >> it's a huge deal. >> but would never last -- >> never going to happen,...
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Jan 15, 2013
01/13
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bernanke weighing in on the debt ceiling in michigan late yesterday. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effective way to improve your credit rating. >> the metaphors, jim, whether it's a family not paying the credit card bills, the president saying it's like dining and dashing at a restaurant, the only thing is we've got two weeks of respite and then we're off to the races again. >> after the civil war, there was tremendous partisanship in this country. a tumultuous time. the level of bipartisanship. there's such hatred that you can't get in a room. it never seems like obama gets in the room. biden got in the room beforehand. but look, everybody hates each other down there. it's exactly the opposite of what you would expect from a respected nation
bernanke weighing in on the debt ceiling in michigan late yesterday. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effective way to improve your credit...
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Jan 15, 2013
01/13
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they are fighting over the debt ceiling. no worries about our ability to repay our debt. ♪ [ male announcer ] where do you turn for legal matters? maybe you want to incorporate a business. orrotect your family with a will or living trust. and you'd like the help of an attorney. at legalzoom a legaplan attorney is available in most states with every personalized document to answer questions. get started at legalzoom.com today. and now you're protected. >> i have your fox business brief. conoco phillips is selling some of its properties in north dakota and montana. the deal is expected to close in the first quarter. shares of usa compression partners are under pressure. the pricing of the company of 11 million shares at $18 each fell short of the estimated range. they are the first ipo of the year. shares of given imaging are trailing on news that they are taking itself off the market. they are no longer considering a sale or possible merger. they will focus on their current operating plan. that is the latest from the fox bu
they are fighting over the debt ceiling. no worries about our ability to repay our debt. ♪ [ male announcer ] where do you turn for legal matters? maybe you want to incorporate a business. orrotect your family with a will or living trust. and you'd like the help of an attorney. at legalzoom a legaplan attorney is available in most states with every personalized document to answer questions. get started at legalzoom.com today. and now you're protected. >> i have your fox business brief....
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Jan 19, 2013
01/13
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MSNBC
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. >> we're going to change to debt ceiling now. white house leader eric cantor says the gop -- they're going to give them a three-month reprieve, they're going to temporarily approve a debt limit increase. the president said no negotiating on the debt limit ceiling. is this a victory for the president or do you see this as just a postponing of the inevitable standoff? >> it's both. it is a victory for the president, the republicans have been saying, we're not going to raise the debt ceiling unless we have every dollar of the debt ceiling goes to spending of that same amount. they've conceded they're going to extend the debt ceiling without any cuts. but that moves us to now where government funding expires on march 31th. at that point, we'll have a s w showdown in which republicans insist on spending cuts. there will still be some kind of fight. we will have a clock to some kind of catastrophic event that could happen, like we had in december. but it would not be with the debt ceiling. the republicans seem to have conceded to the o
. >> we're going to change to debt ceiling now. white house leader eric cantor says the gop -- they're going to give them a three-month reprieve, they're going to temporarily approve a debt limit increase. the president said no negotiating on the debt limit ceiling. is this a victory for the president or do you see this as just a postponing of the inevitable standoff? >> it's both. it is a victory for the president, the republicans have been saying, we're not going to raise the debt...